BAKU, Azerbaijan, Feb. 24
By Nargiz Sadikhova - Trend:
To date Partners of Karachaganak Petroleum Operating B.V. have invested more than $27 billion into the development of the Karachaganak field, Trend reports citing the company.
In December 2020, the Karachaganak Partners signed an agreement sanctioning the Karachaganak Expansion Project-1A (‘’KEP1A Project’’).
Commenting on the event, Edwin Blom, KPO General Director, pointed out that “the sanctioning of the KEP1A Project is a new important milestone in the continued development of the Karachaganak field, building further on the achievements of Karachaganak Gas Debottlenecking Project (KGDBN) and the Fourth Injection Compressor (4IC) Project. By the way, both projects have progressed significantly during 2020 despite the pandemic and the associated travel restrictions and supply delays. Aimed at extending the duration of the liquid production plateau, the KEP1A Project, which comprises of the 5th Injection Compressor and other associated facilities, will make a significant contribution”.
“Despite the challenges brought by coronavirus infection, KPO remains committed to maintain safe operation of the giant Karachaganak field for continued generation of revenue for the Republic”. Keeping the field running means thousands of jobs and welfare of households across the region and beyond”, added Blom.
The Karachaganak field, discovered in 1979, is one of the world’s largest gas and condensate fields. Located in north-west Kazakhstan and covering an area of over 280 square kilometers, it holds estimated hydrocarbons initially in place (HIIP) of 9 billion barrels of condensate and 48 trillion cubic feet (tcf) of gas, with estimated gross reserves of over 2.4 billion barrels of condensate and 16 tcf of gas.
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